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Main Street Monthly 905 Old Cherokee Road, Lexington, SC 29072 • P: 803-358-7214 • www.strattonreynolds.com
OCT./NOV. 2023
CHRISTMAS OFFER 2023 Give the Gift of Peace of Mind to Your Loved Ones
With the holidays quickly approaching, a lot of us are busy making our Christmas lists. We live in a world where a lot of our adult children do not need gadgets, socks, or ties. What they do need is a good estate plan. So, this year, Stratton & Reynolds wants to make it easier for you, our wonderful clients, to give the peace of mind of a comprehensive estate plan to your loved ones. We have a lot of clients, who, after finishing their planning with us, mention they need to get their kids or their siblings into our office to do planning, too. As such, we are offering, for the first time, an option to purchase an estate plan for another person at a reduced cost. So, for example, parents can buy their kids, whether married or single, a trust-based estate plan, which would include a revocable living trust (joint if married), pour-over wills, general durable powers of attorney, health care powers of attorney, and assistance with funding the trust, including up to three South Carolina deeds and generic funding letters to change beneficiaries or PODs on accounts and policies. Our normal flat fee for this plan is $4,400. For our Christmas offer, this plan would be $3,700. In addition, if you buy more than one, we would take an additional $200 off each additional plan. So, for a family purchasing three of these plans for their three kids, it would be a total of $10,500 instead of the normal cost of $13,200.
general durable power of attorney, and health care power of attorney, for a married couple is $1,500. For this Christmas offer, it would be $1,000. There are a couple of rules, though. First, the person you are buying the plan for must be a resident of South Carolina. We cannot make plans for individuals who live in other states because our attorneys are licensed only in South Carolina. Second, the person you purchased the plan for will be our client and is entitled to all the duties and protections of a “client” including that big one: confidentiality. As such, we cannot tell you about their plan without their permission, and you will not be given copies of their documents without their express permission. Lastly, the person you purchase the plan for needs to be willing and able to meet with one of our attorneys at either our Lexington or Aiken office or by Zoom. To take advantage of this offer, simply call our office at 803-358-7214 or email our administrative assistant Diane Ford at Diane@strattonreynolds.com . You will get a beautiful gift certificate to formalize this plan and give your loved ones something to unwrap for Christmas. –Chasity and TC
If you simply want to purchase a will plan for your loved one, you can do so. Normally, a will-based plan, which includes a will,
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THE SCIENCE BEHIND WHY DOGS AND HUMANS CAN’T RESIST LEAF PILES
Whether it’s your boisterous toddler or rowdy pup, a perfect pile of autumn leaves might be too good to resist! You probably remember the days when you also jumped into a crunchy orange leaf pile without a second thought. But why do humans and dogs love jumping into huge piles of leaves? The main (and most obvious answer) is because it’s fun! For kids, dogs, and even some adults, jumping and rolling around in the fall leaves is a satisfying form of play that releases energy. While this may be the simple reason for humans, there are a few more reasons your canine companion can’t resist a tower of leaves. Instinct to Dig Digging is a dog’s favorite pastime that dates back to their wolf ancestors. Just as natural as sniffing and barking, digging is an ingrained behavior for dogs, and they
want to follow their instincts the moment they see a leaf pile. Whether they’re digging in to rest in the cool leaves or demolishing the pile entirely, your dog is just doing what dogs have always done. Irresistible Seasonal Scents Our sense of smell doesn’t even come close to dogs’ incredible scent skills.
While we have 5 million scent receptors, dogs have anywhere between 125–300 million! This means they can smell countless other scents we can’t, and autumn may bring some exciting aromas your dog hasn’t experienced in a while. The result? They’ll dive right into a leaf pile and get sniffing! Marking Territory Another scent factor could be your dog wanting to claim a particular leaf pile. We already know dogs use their scents to mark territory, and rolling in a beloved pile of leaves is a way to infuse their scent. After diving head first into some leaves, they leave their scent behind so other animals can smell them and know that the leaf pile has already been claimed! Whatever the case, jumping into a pile of leaves is completely normal — and fun! — for both humans and dogs.
GIFTING FOR 2023 Strategies to Make the Most of It
About this time of the year, we get a lot of questions about annual gifting (gift tax exclusion) and what is allowed by the IRS. The gift tax exclusion amount allowed for 2023 is $17,000 per person. The gift tax annual exclusion just means the amount you can give to a single person in a year without having to report the gift on a gift tax return.
What if those grandkids are minors? You cannot just give a 5-year- old or a 12-year-old $17,000. Instead, you can put the funds into a 529 educational account for the benefit of the minor or a Uniform Gift to Minors Account (UGMA) or even set up a trust to hold the funds. For 529 accounts, there are special rules for gifting. Basically, if you are funding a 529, you can give five years’ worth of gifts in just one year with no gift tax repercussions. This is known as “front-loading” gifts. So, if you have a new grandchild, you can start their 529 account with $85,000 with no gift tax repercussions. However, you cannot put more in for five years. The advantage to the “front-loading” of the gift is simply allowing those funds to be invested for longer and go faster with compounding interest. If you have questions about the gift tax annual exclusion, please feel free to reach out to us. If you have questions regarding investments, such as 529 accounts, or need to consider gifting as part of your tax plan, reach out to your financial advisor or CPA.
Practically, what does that mean? Well, for example, if you are a married couple and you want to give each of your two children and your five grandchildren the full amount allowed, both you and your spouse could give $119,000 each (or a total of $238,000 as a married couple)
because you can each give your kids and grandkids the entire $17,000. If you multiply $17,000 by 7, that is $119,000. This is incredibly important for those who want to gift the money to assist a family
member or watch them enjoy the money while they are still alive and, most importantly, for those concerned about the future of the estate tax.
–Chasity
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Countless adults struggle to set fitness goals, so it shouldn’t be surprising that many teens don’t know where to start either. Parents can be a critical source of motivation and support for young adults as they create healthy habits. Whether your teen is a natural-born sports star or a bit of a couch potato, you can help them be more purposeful about exercise and fitness. The process begins by discovering what drives them. If your teen is already active, ask what they enjoy and what goals they have for themselves. For those more reluctant to break a sweat, discuss whether they’re happy with their fitness level. Are they satisfied with their current level of activity? Do they think it will continue serving them well as they age? But even more important than their goals is their motivation. We only achieve something with a compelling reason to drive us. Whether your teen’s goal is strength, weight loss, endurance, or something else, ask why it matters to them. Don’t be surprised if your teen’s motivations center around their looks — after all, we live in a very appearance-conscious society. But you can both acknowledge the pressure to look a certain way while reminding your kids that their health is more important. Many reasons to exercise focus on avoiding negative emotions like insecurity, so help your teen flip their perspective and concentrate on how they want to feel in the future. Your teen probably won’t stop caring about how they look in bathing suits, but having these conversations is crucial. Adolescence is a particularly vulnerable time for developing eating disorders, so discourage calorie-counting or obsessive exercise. If you are concerned about your child’s relationship with food or fitness, you should speak with their doctor. Empower Your Teen With Fitness Goals A PARENT’S ROLE IN CREATING HEALTHY HABITS
TAKE A BREAK!
Solution on page 4
Homemade Pumpkin Spice Latte
Inspired by AmbitiousKitchen.com
Save money this October with this delicious homemade pumpkin spice latte that will taste better than any store- bought coffee.
INGREDIENTS
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2 shots espresso (or 1/2 cup freshly brewed coffee) 1 cup milk of choice 3 tbsp pumpkin purée
1–2 tbsp maple syrup 1 tsp pumpkin pie spice
1 tsp vanilla extract Whipped cream for topping (optional)
Ideally, the focus should be on the benefits of physical activity. Talk about the reasons you make time to exercise. And if you don’t move as much as you should, see if your teen would be interested in joining you in becoming fit together. Parents play a crucial role in shaping their children’s relationship with fitness. Help them understand the lifelong advantages of being active so that the habits they create now follow them well into adulthood.
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DIRECTIONS
1. In a small pot on medium heat, heat milk until simmering but not boiling. 2. Make your espresso (or coffee) and pour into a large mug or Mason jar. Add pumpkin purée, maple syrup, pumpkin pie spice, and vanilla and stir until well combined. 3. With a milk frother, froth the heated milk until foamy. Then, pour into your pumpkin espresso mixture and top with whipped cream. For decoration, you can sprinkle more cinnamon or pumpkin spice on top!
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PRST STD US POSTAGE PAID BOISE, ID PERMIT 411
905 Old Cherokee Road Lexington, SC 29072
Inside this Issue
Christmas Offer 2023 PAGE 1 Explore the Instinctual Call of Crisp Autumn Leaf Piles PAGE 2 Gifting for 2023 PAGE 2 Homemade Pumpkin Spice Latte PAGE 3 Active Adolescents: Empowering Teen Fitness Goals PAGE 3 Pack These 4 Items for the Best In-Flight Experience PAGE 4
ELEVATE YOUR TRAVEL EXPERIENCE
Unconventional Items to Pack on Your Next Flight
Noise-Canceling Headphones Flights can be noisy. You can never predict crying babies, loud talkers, or hyper kids traveling alongside you. Noise-canceling headphones can provide a peaceful oasis amidst the hustle and bustle of the airplane. They block out ambient noise and allow you
When preparing for your flight, it’s essential to pack the basics, such as clothing, medications, toiletries, and your travel documents. However, there are some surprising and often overlooked items that can greatly enhance your flying experience. These unexpected additions in your carry-on can make your air travel experience more comfortable, enjoyable, and stress-free. Electrolytes Flying is dehydrating! Because airplane cabins are kept at a lower humidity level, your body dehydrates quicker than normal. To help keep your body hydrated without a dozen trips to the bathroom over the course of your flight, pack some electrolyte packets to mix into your water. Speaking of water, pack an empty water bottle with you, and after passing through security, you can fill it up at a water fountain!
Compression socks apply gentle pressure to your legs, reducing discomfort and circulation complications. Portable Charger While you may have remembered to pack your plug-in phone charger, bringing along a portable
charger and power bank is a lifesaver! Sometimes, finding an available charging station in a crowded airport can be tricky. But having a backup power source on the plane makes it possible to keep your devices charged throughout your journey! When packing for your next flight, don’t forget to include these trip-saving items in your carry-on for a more pleasant travel experience — you’ll be glad you did!
to relax, listen to music, or enjoy in-flight entertainment without any distractions. Compression Socks Wearing compression socks on an airplane is crucial for maintaining healthy circulation during long flights. Prolonged periods of sitting can lead to blood pooling in your legs, causing swelling, poor circulation, and even deep vein thrombosis (DVT).
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